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This Oil Stock Is Following Leaders ExxonMobil and Occidental Petroleum by Making a Major Acquisition

TheMotleyFool 
0 0 05.01.24
This Oil Stock Is Following Leaders ExxonMobil and Occidental Petroleum by Making a Major Acquisition: https://g.foolcdn.com/editorial/images/760158/two-people-shaking-hands-with-an-energy-facility-in-the-background.jpg
 

The merger wave in the oil patch is continuing in 2024. The latest deal will see APA Corporation (NASDAQ: APA) acquire fellow oil company Callon Petroleum (NYSE: CPE). That acquisition will enhance APA's scale in the resource-rich Permian Basin.

The deal follows the blueprint of leaders ExxonMobil (NYSE: XOM) and Occidental Petroleum (NYSE: OXY), which have made large deals in that same region. Here's a look at the latest oil stock merger and what it means for investors.

APA Corporation is buying Callon Petroleum in an all-stock deal valued at $4.5 billion, including the assumption of debt. The merger will create a much larger oil company with a total enterprise value of more than $21 billion and combined production of over 500,000 barrels of oil equivalent per day (BOE/D).

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Source Fool.com

APA Group Stapled Secs. Stock

€4.96
-1.460%
We can see a decrease in the price for APA Group Stapled Secs.. Compared to yesterday it has lost -€0.074 (-1.460%).

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